Solar Panel Cost Guide in Leominster, MA (2023 Update)
- Leominster Solar Installation Cost: $9,220
- 25-Year Savings: $17,778
- Payback Period: 8.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Leominster
We go over average solar pricing in Leominster.
In Leominster, solar panels cost about 2.94 per watt on average. The average Leominster homeowner needs a 4.5-kilowatt system, which would cost about $9,220 with the federal tax credit, or $13,185 before the 30% tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy use, the type of equipment you choose, your solar contractor and more. With average savings of about $23,000 on energy bills over 20 years, many homeowners in Leominster find investing in solar can be quite rewarding.
You can click the button below to get connected with a pre-vetted solar installer in Leominster for a quote for your home.
Solar savings over time in Leominster
| Year | Return on Investment |
|---|---|
| 1 years | $-8,140 |
| 3 years | $-5,980 |
| 5 years | $-3,820 |
| 7 years | $-1,660 |
| 9 years | $499 |
| 11 years | $2,659 |
| 13 years | $4,819 |
| 15 years | $6,979 |
| 17 years | $9,139 |
| 19 years | $11,299 |
| 21 years | $13,458 |
| 23 years | $15,618 |
| 25 years | $17,778 |
Top Solar Installers in Leominster
Although it's possible to install solar panels on your own, it takes extra labor and know-how. For that reason, most people choose a solar panel installer. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and component replacements.
If you're looking for a solar installer in Leominster, we've compiled a list of our top suggestions here:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Leominster
Factors that Affect Solar Panel Costs in Leominster
Although the average cost of a solar system in Leominster is $9,220, your actual cost may differ. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
When it comes to estimating the price of solar panels in Leominster, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can gauge by looking at past energy bills. Your overall cost can increase by around $2,940 for each additional kilowatt you need. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your power bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Leominster average.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That's why many Leominster homeowners choose to finance their solar panel systems to make paying for solar more affordable. Even though solar loans make adopting solar energy more accessible for Leominster homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The final key cost factor you should keep in mind is the installer you choose. Given the booming popularity of sustainable energy solutions in Leominster, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. The size of the company sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because they have more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.06 | $12,842 | $23,334 | 8.9 years |
| 8 kW | $3.00 | $16,793 | $31,441 | 8.7 years |
| 10 kW | $2.94 | $20,580 | $39,712 | 8.5 years |
| 12 kW | $2.88 | $24,202 | $48,149 | 8.4 years |
| 14 kW | $2.82 | $27,660 | $56,750 | 8.2 years |
| 16 kW | $2.76 | $30,952 | $65,516 | 8.0 years |
| 18 kW | $2.70 | $34,080 | $74,446 | 7.9 years |
| 20 kW | $2.65 | $37,044 | $83,541 | 7.7 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Leominster, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Warranty: A comprehensive, long-term warranty can help keep your solar system running smoothly and save you money on repairs and maintenance.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. While there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of options before making your decision.
- Installation Process: Make sure you're aligned with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Contract: When reading over your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Leominster, MA Solar Cost FAQs
What is the average cost of installing solar panels in Leominster?
The average cost of solar panels in Leominster is about $14,700 for a 5-kW system and $29,400 for a 10-kW system before the ITC, but the real cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Leominster?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Does Leominster have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future electricity bills.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.